The President of the European Council has arrived in Paris - for crisis talks with his French counterpart, Nicolas Sarkozy. It comes ahead of a four-way conference call with German Chancellor Angela Merkel and Greek Prime Minister George Papandreou on Wednesday.
Trading on the markets has been volatile, directly influenced by the uncertainty over Greece's debt. "Everything we do must be carefully considered, we must be sure of the outcome, otherwise we can quickly get into a situation in the eurozone that we don't want to be in and will have very serious consequences." said German Chancellor Angela Merkel.
The BRIC emerging countries is the latest global grouping to suggest it might come to the EU's rescue. Brazil, Russia, India and China are to meet in Washington next week.
The key issue is whether Athens can manage down its debt - and thereby restore confidence in the markets.
Source: EURONEWS
